1.Geographic and occupation mobility. a. Derive the Sjaastad model to show when and under what conditions an individual migrates. Discuss how the net gains from migration depend on incomes in regions of origin and destination relative to the costs of migration.

b.Discuss the three different immigration waves to United States' history. Who was coming? Where were they coming from?

c.What are the age demographics among immigrants?

d.Use the neoclassical model for wage determination to show how

quits and layoffs are economically efficient. What is the JOLTS data, and how is it superior to the Civilian Unemployment rate to show changes in the state of a labor market?

e. What is the relationship between tied movers and net present values?

4. In the long-run input demand:

a. Using the general production function f(L, K), the costs of labor and capital w and r, what is the long-run labor demand condition with respect to labor.

b.Use the general utility function, w, and r to derive the long-run equal marginal principle.

c.Using an isoquant and isocost diagram, graph the long-run labor demand condition with respect to labor and capital.

d.Describe what a firm will do when its long-run condition is not met, i.e, when will it hire more or less labor?

e.What is the long-run assumption for labor demand? What is the short-run assumption for labor demand?

f.Use the iso-quant, iso-cost graph to address the process of new technologies and production standards. Using the iso-quant, iso- cost graph, if a standard is imposed, does it lead to inefficiencies?